Latin Resources (ASX:LRS) Managing Director, Chris Gale provides an update on the company's projects, its focus on lithium and potential partnering options.
· Latin Resources (ASX:LRS) has the largest hard-rock land holding of lithium pegmatites in Argentina.
· It’s moving to drill to create a JORC resources
· Market Cap of $20m, market cap has significant upside
· Catamarca lithium project: Drilling finished and showed positive grades. It’s looking to find more viable drill targets
· Its 100 per cent owned San Luis site has 90,000 hectares of lithium concessions. Further drilling and environment permits will see LRS gain JORC position
· Sales agreement for copper assets in Peru to be completed by Christmas. Selling assets to Canadian listed company (Westminster Resources (TSX-V:WMR)) for USD$250,000 and 19 million shares over 18 months
· Latin Resources to own $40 per cent of Westminster Resources (equating to $6-7 million)
· Retaining JV with Canada’s largest copper producer, First Qantum Minerals. To drill 1QFY18
· In discussions with other potential partners
· LRS’ share price has gained considerably of late